Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones

Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.

Profit is the payment you get when you take advantage of change.

The modern mind dislikes gold because it blurts out unpleasant truths.

Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.

This civilization is rapidly passing away, however. Let us rejoice or else lament the fact as much as everyone of us likes; but do not let us shut our eyes to it.

The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new---a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization.